The firm was founded in 2013 by Steve Sarracino and has seen six liquidity events so far, a sizeable chunk of the 18 companies it’s invested in. One of those was Hybris, an e-commerce software business which sold to SAP for $1.4 billion. They also invested in Upland Software, which went public.

Sarracino - Partner - Peter - McCoy - Exits

And Sarracino, who invests alongside partner Peter McCoy, is expecting many more “exits” over the next fifteen years, the life cycle for its funds. This compares to the standard fund length of ten years and allows Activant to be “very very long-term...